- Positioning: @BitlayerLabs Bitlayer is a Bitcoin Layer 2 solution based on BitVM (Bitcoin Virtual Machine), aimed at enhancing the scalability, transaction speed, and cost efficiency of the Bitcoin network while maintaining the security and decentralization features of the Bitcoin mainnet. It expands Bitcoin's applications in decentralized finance (DeFi), NFTs, gaming, and other fields by supporting Turing-complete smart contracts.
- Technical Features:
- BitVM Technology: Bitlayer utilizes BitVM to perform complex off-chain computations while verifying them through the Bitcoin mainnet, ensuring security equivalent to Bitcoin.
- OP-DLC Bridge: Provides a trust-minimized cross-chain bridge that allows users to securely transfer assets between Bitcoin Layer 1 and Bitlayer Layer 2 while retaining partial control over their assets.
- Turing Completeness: Supports a smart contract environment compatible with the Ethereum Virtual Machine (EVM), allowing developers to quickly migrate Ethereum ecosystem dApps to Bitlayer.
- OpVM Technology: Bitlayer is developing the V2 mainnet, utilizing OpVM (combining fraud proofs and zero-knowledge proofs) to further enhance the verification capabilities of Layer 2 states on Bitcoin Layer 1.
- Ecosystem Status:
- Bitlayer launched Mainnet V1 in April 2024, attracting over 280 dApp deployments covering DeFi, NFTs, gaming, the metaverse, and real-world assets (RWA), with a total locked value (TVL) exceeding $550 million, ranking first among Bitcoin Layer 2 projects.
- The community has over 700,000 users, with partners including AWS, Polyhedra, Babylon, and more than 30 other Web3 platforms.
- Financing Situation: Bitlayer has raised a total of $29 million, including a $5 million seed round in March 2024, an $11 million Series A round in July, and a $9 million Series A extension in October, with investors including top firms like Franklin Templeton, Polychain Capital, and Framework Ventures. #bitlayer
The real feeling is just garbage; this task still needs to rank in the Top 100.
